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المشهد العربي
US crude stocks rise amid lower derivatives
Data released by the U.S. Energy Information Administration highlighted an unexpected rise in commercial crude oil inventories by 2.5 million barrels for the week ending July 31, despite analysts' expectations of a decrease of nearly 1.2 million barrels. Conversely, petroleum product inventories registered a broad decline, with gasoline inventories decreasing by 1.6 million barrels and distillates (diesel and heating oil) dropping by 3.5 million barrels. The increase in crude oil stocks is attributed to a temporary slowdown in refining operations or a decline in domestic withdrawals, while the decrease in fuel stocks reflects continued strong demand for fuels and high vehicle travel during the summer season.
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